RIM: With Earnings Ahead, A Last Minute Estimate Cut

With Research In Motion due to report results for its fiscal fourth quarter after the close this afternoon, S&P Capital IQ analyst James Moorman this morning snuck in a last minute estimate reduction, while repeating his Sell rating on the shares.

Moorman cut his Q4 forecast by two cents a share to 80 cents; he sees unit shipments of 10.9 million units, below the forecast range of 11-12 million. For the February 2013 fiscal year, his EPS forecast drops by 11 cents to $2.85; for FY 2014 his forecast by a dime to $2.81.

Moorman maintains his $13 target price on the stock.

The Street consensus is expecting the BlackBerry maker this afternoon to post revenue of $4.54 billion and profits of 81 cents a share.